GITA Announced the 150,000 GEL Co-Financing Grants Program for the 10th Time

The Innovation and Technology Agency of Georgia announces the 150,000 GEL co-financing grants program for the tenth time. It introduces certain innovations in the program, the presentation of which was held in the Technopark.

The conditions for participation in the 150,000 GEL co-financing grants program are changing, and from February 15th, interested persons are given the opportunity to submit a business idea through the electronic portal www.grants.gov.ge, which will be evaluated by the contractor company and 150 pre-selected startups will be trained in the business plan, budgeting, forecasting and market in the direction of research.

The next step involves filling out the complete application on the portal, which includes the project budget, activity plan, financial forecast, and information about the team. The applications will be evaluated by international experts and will be assessed both by a scoring system and an interview, as a result of which 50 finalists will be identified. They will undergo a 5-day training program called "Coaching" to prepare for the presentation of the project before the investment committee. The International Investment Committee will identify the winning startups, and each of them will receive a grant of up to 150,000 GEL.

Co-financing grants are intended for startups whose total turnover does not exceed 500,000 GEL during the last 12 months. Also, the duration of the project should not exceed nine months. The project should not be related to the production of alcohol and alcoholic beverages, tobacco, and hazardous substances. Projects related to the wine industry will be considered eligible if they do not concern the production of alcohol or alcohol-containing products.

See detailed information on the co-financing web portal www.grants.gov.ge.